An Asset with a Cost of $45,000 Was Sold for $9,500

question 115

Multiple Choice

An asset with a cost of $45,000 was sold for $9,500 and resulted in a gain of $2,000. How much was accumulated depreciation at the time of sale?

• A) $39,500
• B) $45,000
• C) $37,500
• D) $35,500

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Definitions:

Canister

A cylindrical container for holding and dispensing various substances, often under pressure.

Cyanocobalamin IM

An intramuscular injection form of vitamin B12, used to treat or prevent B12 deficiency.

Mcg/mL

A unit of measurement for concentration, indicating micrograms of a substance per milliliter of liquid.

Dextrose IV

Intravenous infusion of dextrose, a form of glucose, used to provide nutritional support and manage low blood sugar levels in patients.